Quantum computing is often dismissed as a distant sci-fi future, but Ethereum OG John Lilic and Oxford physicist Stefano Gogioso argue the timeline is shrinking fast with roadmaps converging around 2030. In this episode, they break down the "woeful" state of quantum readiness in crypto, explaining how Shor's algorithm could eventually shatter the elliptic curve cryptography protecting Bitcoin and Ethereum.
They also explore the terrifying concept of "harvest now, decrypt later," which implies that encrypted data and privacy coins like Monero may essentially be compromised already. Finally, they introduce "Quantum Money," a revolutionary form of digital cash developed by Stefano’s startup NeverLocal, which relies on the laws of physics rather than blockchain consensus to prevent double-spending.
Topics
00:00 Intro
03:00 John’s Quantum Awakening
08:00 Defining Quantum Computing
13:30 Logical Qubits Explained
18:15 Crypto’s "Woeful" Readiness
23:30 "Harvest Now" Threat
28:45 Monero’s Privacy Risk
33:15 What is Quantum Money?
40:00 Investment & Hedging
Links
John Lilic on X: https://x.com/LilicJohn
Stefano Gogioso on X: https://x.com/StefanoGogioso
NeverLocal: https://neverlocal.com
Quantum.info: https://quantum.info
Gnosis: https://gnosis.io/
Sponsors:
Gnosis: Gnosis has been building core decentralized infrastructure for the Ethereum ecosystem since 2015. With the launch of Gnosis Pay last year, we introduced the world's first Decentralized Payment Network. Start leveraging its power today at http://gnosis.io
Brian Fabian Crain and Michael Egorov, Curve Finance founder, discuss Curve's origins: solving inefficient DAI/USDC swaps after MakerDAO borrows by creating a DeFi AMM for stablecoins and LSTs.
It hit 1M TVL with a bonding curve concentrating liquidity at 1:1, more effective for pegged assets than Uniswap. Features grew to include BTC wrappers, stETH pairs, and crvUSD (a CDP stablecoin with reversible liquidations & a peg-keeper).
Governance uses veCRV: Locking CRV grants voting power proportional to lock duration, a mechanism now refined in Yield Basis.
Yield Basis solves impermanent loss in volatile pools (e.g., BTC/crvUSD). Users deposit BTC; the protocol borrows crvUSD, pairs it at 2x leverage (50% debt/equity), and uses LP tokens as collateral. This gives 1:1 asset tracking, while fees accrue from auto-rebalancing arbitrage.
Simulations show 20%+ APY (may decline as BTC volatility drops) under a $50B TVL cap. It complements Curve by directing veCRV incentives to crvUSD pools, enhancing liquidity, fees, and DAO revenues. Key considerations: manual migrations, deterring forks, and dev support to scale.
Topics Discussed
Links Mentioned
Sponsors
Gnosis: Building decentralized infrastructure since 2015. With Gnosis Pay, the first Decentralized Payment Network. Start leveraging its power at gnosis.io
This episode is hosted by Brian Fabian Crain.